CPNHF (Kobenhavns Lufthavne) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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CPNHF Kobenhavns Lufthavne CPNHF
75 GF Score
Price $324.25
GF Value $433.33
! 2 Warning Signs
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What is Kobenhavns Lufthavne Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kobenhavns Lufthavne  (OTCPK:CPNHF) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Kobenhavns Lufthavne Cyclically Adjusted PB Ratio Related Terms


Kobenhavns Lufthavne Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kobenhavns Lufthavne's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kobenhavns Lufthavne Cyclically Adjusted PB Ratio Chart

Kobenhavns Lufthavne Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.93 4.77 4.84 4.70 4.35

Kobenhavns Lufthavne Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.65 4.55 4.49 4.42 4.30

CPNHF vs JOBY, CAAP: Cyclically Adjusted PB Ratio Comparison

For the Airports & Air Services subindustry, Kobenhavns Lufthavne's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kobenhavns Lufthavne Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Kobenhavns Lufthavne's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Kobenhavns Lufthavne's Cyclically Adjusted PB Ratio falls into.


CPNHF
75GF Score
Kobenhavns Lufthavne CPNHF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Kobenhavns Lufthavne Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Kobenhavns Lufthavne's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Kobenhavns Lufthavne's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=120.267/122.9500*122.9500
=120.267

Current CPI (Jun. 2026) = 122.9500.

Kobenhavns Lufthavne Quarterly Data

Book Value per Share CPI Adj_Book
201609 53.745 100.200 65.948
201612 54.913 100.300 67.314
201703 60.325 101.200 73.290
201706 57.768 101.200 70.184
201709 58.139 101.800 70.218
201712 64.783 101.300 78.629
201803 71.300 101.700 86.198
201806 58.070 102.300 69.792
201809 56.596 102.400 67.954
201812 60.242 102.100 72.544
201903 63.211 102.900 75.528
201906 56.853 102.900 67.931
201909 56.652 102.900 67.691
201912 62.372 102.900 74.525
202003 62.947 103.300 74.921
202006 60.020 103.200 71.506
202009 59.112 103.500 70.220
202012 55.693 103.400 66.223
202103 46.702 104.300 55.053
202106 62.062 105.000 72.672
202109 61.822 105.800 71.843
202112 62.301 106.600 71.857
202203 58.170 109.900 65.077
202206 56.210 113.600 60.836
202209 55.720 116.400 58.855
202212 61.023 115.900 64.735
202303 61.196 117.300 64.144
202306 62.955 116.400 66.498
202309 65.400 117.400 68.492
202312 64.915 116.700 68.392
202403 65.366 118.400 67.878
202406 70.685 118.500 73.339
202409 80.597 118.900 83.342
202412 78.133 118.900 80.794
202503 83.444 120.200 85.353
202506 93.764 120.700 95.512
202509 104.539 121.600 105.700
202512 110.357 121.180 111.969
202603 112.264 121.670 113.445
202606 120.267 122.950 120.267

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Kobenhavns Lufthavne (CPNHF) Overvalued in 2026?

Based on GuruFocus' analysis, Kobenhavns Lufthavne stock appears to be undervalued. The current stock price of $324.25 is trading 25.2% below its estimated GF Value™ of $433.33.

Key valuation signals for CPNHF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $433.33 vs. price of $324.25 (25.2% below fair value)
  • GF Score™: 75/100 with 2 warning signs

No single metric tells the full story. See the CPNHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kobenhavns Lufthavne Business Description

Other Exchanges KBHL:Denmark
Address Lufthavnsboulevarden 6, Kastrup, DNK, 2770
Kobenhavns Lufthavne owns and operates Airports in Denmark. The company manages the infrastructure, buildings, and other services in the Kastrup and Roskilde airports. Copenhagen Airports divides its activities into two areas; Aeronautical and Non-aeronautical. Its majority of revenues are derived from the Aeronautical segment which comprises the operations and functions that the airports at Kastrup and Roskilde make available so that airlines can operate their flights, including facilities required for passengers to pass through these airports. The Non-aeronautical segment comprises the other facilities and services provided at the airports for passengers and others, including car-parking facilities, shops, restaurants, rest areas, lounges, and hotels.
75GF Score

Get the complete analysis for CPNHF

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$324.25
Price
$433.33
GF Value